Building Details

Year built 1970

Floors in Building 1

Flooring type Carpet, Concrete

Roof type Metal, Asphalt, Shingle

Additional Structures Storage

Listing Agency: Davis R. Chant - Lake Wallenpaupack d***@chantre.com Show Phone

Listed By: Eric James Ehrhardt · License #RS140542A Show Phone

Added: Aug 5 Changed: Aug 27 Last Checked: Aug 29 at 7:06AM

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MLS# PW-262637

Copyright © 2026 Pike/Wayne Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This flex property includes two separate buildings with 5,959 combined square feet, seven garage bays, office and showroom areas, workshop space, restrooms, storage, and a loading area. The 2,904-square-foot primary building combines a windowed showroom, two garage bays, office space, workshop area, and fireplaces. A second 2,191-square-foot garage has five overhead doors, an open interior, and bright lighting, while an attached 864-square-foot covered storage area provides additional capacity. An outdoor fenced storage area and expansive parking lot are also included.

The property has roadside frontage along Route 390 and is located less than two miles from Exit 26 of I-84. The wooded setting is near Lake Wallenpaupack. MU Multiple Use zoning, well water, ductless cooling, and a combination of propane, electric, heat pump, fireplace, and baseboard heating are identified. The sale covers the real estate only and excludes the existing business, equipment, inventory, and furnishings.

Key Highlights

• 5,959 combined square feet across two buildings
• Seven total garage bays, including five overhead‑door bays in the secondary garage
• Primary building contains 2,904 square feet with showroom, offices, workshop, storage, and two garage bays

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$41,683

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.01%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$833,660 $833.7K

Cap Rate 7%

$595,471 $595.5K

Cap Rate 9%

$463,144 $463.1K

Market Conditions

NOI Build-Up for 5,959 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$67.9K $11.40/SF

− Vacancy

−$3.8K −$0.64/SF

EGI

$64.1K $10.76/SF

− OpEx

−$22.4K −$3.77/SF

NOI

$41.7K $7.00/SF

Area

Pike County, PA

Vacancy

5.60%

Lease Rate

$11.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$833,660

Cap Rate 7%

$595,471

Cap Rate 9%

$463,144

Alternative Uses

Best Use

Flex RnD

$595.5K

$521.0K – $694.7K (±1% cap)

NOI $41,683 @ 7.0% cap · market cap 7.01%

Second Best

Warehouse

$589.5K

$515.8K – $687.8K (±1% cap)

NOI $41,265 @ 7.0% cap · market cap 6.94%

Theoretical Best

Office A

$1.45M

$1.27M – $1.70M (±1% cap)

NOI $101,793 @ 7.0% cap · market cap 17.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Lease Details

7

Drive-in doors

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 18464, PA

1,368

Population

1,314

Households

1

Avg Household Size

53

Median Age

19%

College-Educated

98%

High-School Grad

11.6 sq mi

ZIP Area

118

Density / Sq Mi

$75,855

Median Household Income

$41,885

Median Earnings

$1,474

Median Rent

$319,900

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Two-building commercial property with office, showroom, workshop, storage, and flexible vehicle or equipment areas in MU zoning.

Where is this flex space located?

The property is located at 424 Rt 390 Tafton, PA.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: 5,959 combined square feet across two buildings; Seven total garage bays, including five overhead‑door bays in the secondary garage; Primary building contains 2,904 square feet with showroom, offices, workshop, storage, and two garage bays